Examlex
Under a shipment contract,the risk of loss passes to the buyer when the goods are delivered to the carrier.
Bargain Purchase Option
An option in a lease that allows the lessee to purchase the leased asset at the end of the lease term at a price significantly lower than its estimated fair market value.
Capital Lease
A lease agreement that transfers substantially all the risks and benefits of ownership to the lessee, effectively treated as a purchase by the lessee.
Unguaranteed Residual Value
The estimated future value of an asset at the end of its lease term that is not guaranteed by the lessee or a third party.
Lease Obligation
A financial commitment to make future payments under a lease agreement.
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